Hi all,

I am running a form of OLS regression, where I am trying to determine the effect of national culture on firms' leverage ratio. My sample consists of some 2000 firms from 19 countries for the years 2010-2018, bringing the total number of observations to around 15000. My Dependent variable is leverage ratio and my independent variables are 6 proxies for culture (Scores on cultural dimensions, by country). Moreover, I control for certain firm specific (Profitability, Size etc.) and country specific variables (GDP, Taxes etc.), which have been shown to have an effect on capital structure choices. I cluster standard errors at the firm level.
I also want to control for the Year, Industry and Law fixed effects. My question is, what is the difference between doing so using dummies or i.fixed effects? Basically, which of the following 2 regressions/codes should I insert/run, or are they essentially the same?

Code:
reg IndependentVariables FirmLevelControlVariables CountryLevelControlVariables YearDummies IndustryDummies LawDummies, cluster(Firm)
or
Code:
reg IndependentVariables FirmLevelControlVariables CountryLevelControlVariables i.Year i.Industry i.Law, cluster(Firm)
Thank you already in advance!